Plastic Jungle Turns Gift Cards Into PayPal Credit

Plastic Jungle internet gift card exchange is leveraging PayPal to allow PayPal users to fund their accounts with gift cards they are not planning to use. The gift card exchange application was officially debuted at the PayPal X Innovate 2010 conference and is now available to a limited number of PayPal users. This application uses PayPal’s “Adaptive Payments” APIs to allow PayPal’s users to sell gift cards to Plastic Jungle and receive up to 92% of the verified balance transferred into their PayPal accounts. Someone could sell a gift card to a department store and quickly receive funds in his or her PayPal account to put toward another purchase or to pay a bill. There are an average of $30 billion in unredeemed gift cards more than 400 national and local brands are included on the website.

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Checks Unlimited Launches Rewards Debit Card

Direct Checks Unlimited direct-to-consumer check provider is deploying Tempo’s affinity debit card platform to provide a debit rewards card through its brand, a first for the Company. The Special Edition Discover debit cards link to consumers’ existing checking accounts, can be used everywhere Discover cards are accepted, and provide cardholders with cash-back rewards. The cards are issued by Tempo partner First Bank & Trust of Brookings, SD, part of Fishback Financial Corporation. Tempo co-branded debit cards and web-based debit card platform enables merchants and other organizations to offer their own branded debit cards and provides a web portal for consumers to apply for and activate cards, as well as track purchases and rewards.

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Cardtronics to Operate ATMs at 24 Bosselman Stores

Bosselman convenience stores and travel centers has inked agreements allowing Cardtronics to provide ATM services at 24 of its 42 Pump & Pantry convenience stores across Nebraska. Bosselman will own and maintain the 24 ATMs, which are being purchased from Cardtronics, while Cardtronics will provide ATM Managed Services, including transaction processing through its company-owned processing network. TX-based Cardtronics non-bank owner of ATMs operates over 33,700 ATMs across its portfolio, with ATMs in every major market in the United States and in the U.S. territories of Puerto Rico and the U.S. Virgin Islands, approximately 2,800 ATMs throughout the United Kingdom, and more than 2,900 ATMs throughout Mexico.

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ALCATEL-LUCENT

Alcatel-Lucent Mobile Network Operator (MNO) has partnered with MoreMagic global mCommerce and Financial Services Hub to offer customers end-to-end transaction settlement. Providing existing prepaid subscribers fast, convenient way of recharging their prepaid mobile account, even if they’re in another country, the partnership allows prepaid subscribers to redirect a portion of their current balance to recharge a prepaid mobile account immediately. Meanwhile, the Companies now allow MNO’s to help increase customer loyalty and reduce subscriber churn through the convenience of using a mobile connection to transfer a portion of the value in a subscriber’s account to another prepaid account.

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VIVOTECH

ViVOtech NFC and contactless payment “Trusted Services Manager;” “OTA” provisioning platform; and NFC mpayment wallet software will be used by Teletech Middle East in the first NFC Add-On mobile payment service in the Middle East before the end of 2010. Teletech Middle East currently works with du telecom and other regional mobile operators on value added services. Providing TSM services for selected partner banks along with du telecom in UAE, banks’ participating cardholders can download credit, debit, and prepaid cards securely over the air to existing Smartphone handsets. Once the handset has been personalized, customers will be able to make payments using their Smartphone’s at multiple contactless enabled merchant locations in the United Arab Emirates and other countries in the GCC region.

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HYPERREMIT

hyperWALLET Systems Inc global payment solutions launched its” hyperREMIT” low-cost SMS international remittance service from Canada to the Philippines. With this, Canadians can quickly send funds to recipients in the Philippines using a variety of secure remittance options, starting from just $6.00 CAD per transfer. Users can do this through bank deposit, cash pickup, door-to-door delivery, or via Smart Money transfers and prepaid airtime top-ups. Transfers can be quickly initiated over the phone or through SMS text messaging, and funds are typically available to Philippine recipients within 1 business day.

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VeriFone & PayPal Launch mPayments Partnership

VeriFone Systems will expand PayPal payment acceptance in the mobile environment to further integrate online and traditional card-based payments with the VeriFone “PAYware Mobile” card encryption sleeve. This will be enhanced to support PayPal “Bump” technology, in which iPhone users can bump their phones together to transfer money. VeriFone will promote PayPal and “Bump” acceptance to its vast reseller channel PayPal will market. With this partnership, VeriFone can enhance its “PAYware Mobile,” on the “PAYware Connect” payment gateway service to provide merchants with integrated transaction reports for PayPal and traditional card payments.

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INSTABANK

BMO Bank of Montreal and Phoenix Interactive have partnered to change the way customers interact on BMO’s network of 2100 “Instabank” ATMs. Integrating Phoenix’s “Commander” software solution with its ATM channel, BMO now allows bank customers to set up ‘short cuts’ to “preferred” transactions – such as: ‘My Usual Withdrawal’, ‘My Usual Transfer’, ‘My Usual Deposit’, etc., at the machine for a faster, more personalized experience. The new technology will also give the bank the ability to communicate personally-relevant information and product offers to its individual customers.

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EASTNETS

EastNets compliance and payments solutions has unveiled its “en.MoRe” m-remittance solution in Amsterdam. The mobile remittance solution allows consumers to use their m-phone to initiate convenient money transfers. EastNets plans to expand the market coverage of “en.MoRe” starting with a many-to-many network between mobile network operators in 10 sending countries and banks in 15 receiving countries in the coming months. The service will be offered in key markets such as Pakistan, India, the Philippines and the Middle East to help m-network operators and banks target the estimated 200 million migrant workers around the globe who send money to friends and families on a regular basis.

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MBNA

MBNA has won the “Data Driven Marketing Award” from industry publication ‘Marketing Week’ for its Marketing Optimization campaign. MBNA was given the award for its data analysis, data planning, improved targeting and revenue building within company systems. MBNA UK is a subsidiary of the Bank of America subsidiary and is namely being recognized for its understanding of the shifting financial landscape and the tailored nature of it’s varied credit card deals and offerings. MBNA ensured the success of their marketing optimization by teaming up with SAS business analytics software.

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FIS Posts Adjusted Revenue Up 3.3% Y/Y

FIS posted 3Q/10 GAAP revenue was $1.37 billion, compared to $828.7 million the previous quarter, and net earnings from continuing operations of $134.3 million, compared to $66.6 million in 2Q/10. Meanwhile, adjusted revenue was up 3.3% to $1.29 billion over the $1.25 billion in the year ago period and EBITDA was up 14.7% to $426.6 million compared to the $371.9 million in the corresponding period of the year prior. The adjusted net earnings from continuing operations totaled $176.7 million compared to adjusted net earnings from continuing operations of $89.2 million in 3Q/09. Adjusted free cash flow increased to $220.4 million compared to adjusted free cash flow of $132.8 million in the prior year quarter. This performance thanks in part to the migration of Banco Bradesco’s 14 million bankcard portfolio to the FIS proprietary “Base2000” card processing platform; an MoU to continue a JV with Banco Bradesco to acquire Capco alternative processing and remittance; and the acquisition of Metavante Technologies. With this, FIS will continue to pursue strategic alternatives for its item processing and remittance services and is anticipating a full year 2010 adjusted revenue to be at the high end of its guidance for 1% to 3% growth in constant currency with adjusted earnings per share from continuing operations of $1.95 to $1.99 in 2010.

FIS REVENUE
2Q/09: $1.260 billion
3Q/09: $1.290 billion
4Q/09: $1.316 billion
1Q/10: $1.259 billion
2Q/10: $1.250 billion
3Q/10: $1.290 billion
Source: CardData (www.carddata.com)

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HP PAYMENT

HP integrated its global financial messaging and transfer solutions for simplified, secure payments processing at Standard Chartered Bank. Enlisting the help of Software Integrators financial message and payment solutions, HP will provide Standard Chartered Bank clients a comprehensive payments hub. This will Reduce risk through real-time integration and high-availability software and hardware; separate systems from changing business and technology requirements; bridge disparate and incompatible legacy systems and network; and allow users to efficiently send and receive financial messages is a vital part of daily bank operations.

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